One of the most often-overlooked aspects of entrepreneurship involves writing business plans. For many people, business plans are not all that important, or are seen as time-consuming projects that get in the way of other things. There are actually quite a few good reasons why you shouldn’t skip writing a business plan if you want your new start-up to be successful.
You need financing or grants
Few people have the cash resources needed to start a new business. If you’re planning to borrow money, showing a business plan to your lender could be required in order to gain approval for a loan. Likewise, many grants are also contingent upon having a business plan in place.
You need financing or grants
Few people have the cash resources needed to start a new business. If you’re planning to borrow money, showing a business plan to your lender could be required in order to gain approval for a loan. Likewise, many grants are also contingent upon having a business plan in place.
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